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Foreign Exchange

Last ever Soc Gen Winter Party?

It was off on Tuesday evening to Société Générale Corporate and Investment Banking’s winter press party, which the bank has far too much class to call its Christmas bash.

The event was hosted in an über-trendy venue on the edge of the City – you may even be a member of the converted tea warehouse with rooftop swimming pool. The only gripe of the evening came from the fact that no amount of refurbishment could disguise the fact that the building only has one lift; as we were in a rush to get to the bar, myself and two of my colleagues from Euromoney decided it would be quicker to walk up the six flights of stairs.

As you might expect, the party was packed with members of the financial press – most hacks will go anywhere for a free drink. As the Champagne flowed, I have to confess I did feel a tad sorry for those SocGen investment bankers who found themselves collared by pie-eyed journalists. Inevitably, there was talk about the impact of the credit crisis. There was also a bit of banter about whether the party would be held in the same format in 2008.

The reason this was being discussed was not because of anticipated cost cutting, but rather because the whispers that SocGen is soon to become part of the UniCredit banking conglomerate are getting louder and louder.

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